Congratulations you won some money in the lottery. Unfortunately you can't buy a house in Beverly Hills or take over the world like a James Bond villain but you can make a difference in your current financial situation.
So, what should you do with the dough?
First of all pay off those bad debts. You know the ones, the credit cards that charge you a zillion percent interest or the loans on your flash car.
Secondly replenish that cash reserve that you dipped into to take the holiday to Thailand over the Christmas period. Naughty you.
Thirdly allocate some to your retirement account and your fund that you have set up for your children for educational purposes.
Finally with the remainder pay down your mortgage.
Now isn't that a great plan? Resist the temptation to buy that bigger house down the road or a flash new car or a new jet ski or some extravagant toy that you may only use a handful of times.
Of course you don't have to be 100% disciplined taking that holiday to Rarotonga is fine, just don't do it every month.
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